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Justin Cement Company has had the following pattern of earnings per share over the last five...

Justin Cement Company has had the following pattern of earnings per share over the last five years:
20x1.        $10.00
20x2.        $11.60
20x3.        $11.24
20x4.        $11.91
20x5.        $12.58

earning shares have grown at constant rate (round basis) and will continue. Dividends and earnings represent 40%. If the return is 13% what will be the anticipated price for 20x6?

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Answer #1

I HOPE STATEMENT IS : DIVIDEND IS 40% OF EARNINGS. IF ANY CHANGE, LET ME KNOW.

NOTHING WAS MENTIONED, SO DIVIDEND IS TAKEN TILL 4 DECIMALS.

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